What is Your Exit Strategy?

You may be asking “why important to include business exit strategy for my firm”? Well, there is an answer to this, it is a sad reality that not every business survives and franky speaking more than 80% of new enterprises do not succeed in the first five years of business. This is one of the major reasons why having a business exit strategy is as important as ever when it comes to business valuation and employee incentives.

Exit planning basically refers to the steps involved in exiting the business in the smartes way if the business fails (i.e. Bankruptcy, or retirment). The idea is to ensure that your exit transition from the firm is as smooth as possible with miniscule or risk to yourself or the business which is ultimately the most important asset that will aid your retirement plans.

Spend some time to research and strategise your business exit strategy as this is an important tasks that you will have to go through sooner or later.